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Cooke & Arkwright
News 2018 Issue 1

Vacant land tax and danger of unintended consequences

The Welsh Government is to test its new powers under the Wales Act 2014 by putting forward proposals for a new Vacant Land Tax. The tax has been chosen because it ‘could help to incentivise more timely development, and because it could help prevent dereliction and aid regeneration’.

Michael Lawley, Chairman of Cooke & Arkwright warns of the unintended consequences ...

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Record year for Cardiff Commercial lettings

Commercial office lettings in Cardiff to the end of 2017 were up 3% year compared with 2016, according to new figures released by leading commercial property agent Cooke & Arkwright's office agency.

The data shows that total space leased in Cardiff to the end of 2017 was 703,926 sq ft, compared with 685,640 in the previous year. This is also an increase of 12% on 2015 and 23% on 2014.

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One million pound transformation of brunel completed

An investment of more than one million pounds to rebrand and transform Brunel, the largest landmark office building in Cardiff city centre at 225,000 sq. ft., has been completed by the owner, Castleforge Partners.

A striking new external foyer has been created and a two-storey glass atrium now mirrors the extensive glazing of the building. The reconfigured entrance leads to a ...

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Deganwy Marina sold for The Crown Estate

Deganwy Marina on the Conwy Estuary in North Wales has been sold on behalf of The Crown Estate by joint agents Cooke & Arkwright to Lakeland Leisure Estates.

Developed in 2004, the marina is one of the finest and most modern in North Wales and is an important part of the leisure and tourism industry. Lakeland Leisure Estates has acquired the ...

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Will you still be able to let your commercial property after april?

Commercial property owners should be aware that the new Minimum Energy Efficiency Standards (MEES) which come into force on 1st April 2018 are likely to have a significant impact across the property industry, and some properties that are currently rated ‘E’ or higher, may be affected.

After this date, it will be unlawful to renew a lease or do a new letting on any non-domestic building in England and Wales which does not have a ...

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Tolls have been psychological and fiscal barrier

The two Severn crossings passed into public ownership on Monday 9th January 2018 and the tolls have been reduced by removing VAT. The Secretary of State for Wales, Alun Cairns, also confirmed that the tolls will be scrapped altogether by the end 2018.

Michael Lawley, Chairman of Cooke & Arkwright says that the positive impact of the eventual removal of the tolls is likely to grow steadily over a long period ...

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Spring in market sees rent reviews back in fashion

Accommodation in the commercial property market fills up quickly during the good times and South East Wales is no exception.

It seems a long time since we were trying to find occupiers for industrial and office buildings in the great recession and wondering how to mitigate the holding costs of business rates, maintenance and insurance. Since then, building values have risen and existing stock values have risen ...

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Guns at Sandringham

In January 2018, Cooke & Arkwright consultant and former Chairman, Roger Thomas, took part as one of the guns in the Cocker Spaniel Championship at Sandringham, by kind invitation from Her Majesty. The Queen. The two day event was hosted on the Wolferton beat, part of the Estate. Other guns included Cooke & Arkwright client Nick Williams, Sir Gareth Edwards, Simon Hickling (Sandringham Land Agent), Peter Fawcett, Manager of Sheik Al Maktoum’s grouse moors in Durham, and Geoff Garrod, Headkeeper of The Audley End Estate.

The team receive their gift from H.M. The Queen; (Roger Thomas, far right; Nick Williams, left and Sir Gareth Edwards, second right from the Queen)

Director to speak at National rating day, london

Andrew West, Director of Rating at Cooke & Arkwright has accepted an invitation to speak on the policy and practice of business rates in Wales at the 18th National Rating Day in London on Thursday, 7th June.

The National Rating Day has become a tradition in the rating world where practitioners attend to be updated on current topics, to network and contribute to help shape changes for the future. Speakers represent the private sector, the Valuation Office Agency and the Valuation Tribunal Service.

The conference is always popular – attracting over 300 practitioners - and this year's event takes place following the 2017 Revaluation and the introduction of the controversial Check Challenge Appeal process in England.

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Cooke & Arkwright is a trading name of Cooke & Arkwright Ltd. Registered in England and Wales No 2618062. Cooke & Arkwright offer Retail, Office, Industrial, and Rural properties. Registered Office: 7/8 Windsor Place, Cardiff CF10 3SX. Cooke & Arkwright is regulated by the Royal Institution of Chartered Surveyors.
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